Hasbro (HAS) delays Q1 2026 filing after network breach; preliminary results beat range

Rhea-AI Filing Summary

Hasbro, Inc. notified the SEC that it cannot timely file its Form 10-Q for the fiscal quarter ended March 29, 2026 and expects to use the additional time provided by Rule 12b-25. The delay follows unauthorized access to the Company’s network identified on March 28, 2026, which prompted containment actions and a third-party investigation. Hasbro states the unauthorized access did not impact its first-quarter financial results and that, based on preliminary information, results for the quarter are expected to exceed previously disclosed revenue and operating profit ranges. The Company filed this notification on May 11, 2026 and said full financial results will be reported with the Form 10-Q.

Insights

CFO / Financial Reporting Analyst

Delay tied to cybersecurity incident; preliminary results exceed prior ranges.

The filing explains that unauthorized access on March 28, 2026 disrupted systems used for financial close, delaying Form 10-Q completion. Management expects to file within the Rule 12b-25 extension and will publish complete results with that filing.

Key dependencies include completion of the internal investigation and restoration of affected systems. The timing of the Form 10-Q remains contingent on those remediation steps and validation of reported figures.

Cybersecurity Risk Consultant

Incident response active; containment and third-party forensics underway.

Hasbro states it activated incident response protocols, took certain systems offline, and retained third-party cyber professionals. Those steps are standard and intended to limit operational and reporting impacts while investigations proceed.

Areas to watch in subsequent filings include the extent of any remediation costs, operational recovery milestones, and disclosures about residual business interruptions or legal actions tied to the unauthorized access.

Key Figures

Revenue range (previously disclosed): $970M - $985M Operating profit range (previously disclosed): $235M - $245M Unauthorized access identified: March 28, 2026 +1 more

4 metrics

Revenue range (previously disclosed) $970M - $985M fiscal quarter ended March 29, 2026

Operating profit range (previously disclosed) $235M - $245M fiscal quarter ended March 29, 2026

Unauthorized access identified March 28, 2026 date incident was discovered

Form 12b-25 signature date May 11, 2026 date notification was signed by CFO

Key Terms

Rule 12b-25, Form 10-Q, unauthorized access

3 terms

Rule 12b-25 regulatory

"expects that it will file the Form 10-Q within the additional time provided by Rule 12b-25"

Rule 12b-25 is an SEC filing provision that lets a company notify regulators and the public that it cannot file a required periodic report (like a quarterly or annual report) on time and explains the reason for the delay. For investors, the notice is a formal heads-up that financial information will arrive late—similar to a company calling to say it will be late turning in homework—so it signals increased uncertainty and may affect trading and risk assessments until the filing is available.

Form 10-Q regulatory

"unable, without unreasonable effort or expense, to file its Form 10-Q for the fiscal quarter ended March 29, 2026"

A Form 10-Q is a detailed report that publicly traded companies are required to file with regulators three times a year, providing an update on their financial health and business activities. It is important for investors because it offers timely insights into a company's performance, helping them make informed decisions about buying or selling stocks. Think of it as a regular check-up report that shows how well a company is doing.

unauthorized access technical

"identified unauthorized access to the Company’s network on March 28, 2026"

Entry into computer systems, networks, facilities, or data by people who do not have permission to be there—whether by hacking, stolen credentials, bypassing locks, or improper insider activity. For investors, unauthorized access matters because it can lead to stolen customer or financial data, operational shutdowns, regulatory fines, and damage to reputation—like someone breaking into a locked file cabinet and taking sensitive documents, which can reduce a company’s value and increase costs.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 12b-25

NOTIFICATION OF LATE FILING

☐ Form 10-K ☑ Form 10-Q ☐ Form 20-F ☐ Form 10-D ☐ Form 11-K ☐ Form N-CEN ☐ Form N-CSR

For Period Ended: March 29, 2026

☐ Transition Report on Form 10-K

☐ Transition Report on Form 20-F

☐ Transition Report on Form 11-K

☐ Transition Report on Form 10-Q

For the Transition Period Ended:

Nothing in this Form shall be construed to imply that the Commission has verified any information contained herein.

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates: Not applicable

PART I — REGISTRANT INFORMATION

Hasbro, Inc.

Full Name of Registrant

Former Name if Applicable

1027 Newport Avenue

Address of Principal Executive Office (Street and Number)

Pawtucket, Rhode Island 02861

City, State and Zip Code

PART II — RULES 12b-25(b) AND (c)

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)

☑ (a)The reason described in reasonable detail in Part III of this Form could not be eliminated without unreasonable effort or expense; (b)The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and (c)The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

PART III — NARRATIVE

State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

Hasbro, Inc. (“Hasbro” or the “Company”) is unable, without unreasonable effort or expense, to file its Form 10-Q for the fiscal quarter ended March 29, 2026 (the “Form 10-Q”) within the prescribed time period for the reason described below. The Company currently anticipates that it will file the Form 10-Q within the additional time provided by Rule 12b-25 of the Securities Exchange Act of 1934, as amended.

As previously disclosed in the Company’s Current Report on Form 8-K filed on April 1, 2026, and further described by the Company’s Current Report on Form 8-K filed on April 23, 2026, the Company identified unauthorized access to the Company’s network on March 28, 2026. Upon discovery, the Company promptly activated its security incident response protocols, implemented containment measures, including proactively taking certain systems offline, and launched an investigation with the assistance of third-party cyber-security professionals. While the Company believes the unauthorized access has been contained and is making progress in fully restoring its systems and operations, the Company has experienced delays in compiling the information required to complete the preparation, review and filing of the Form 10-Q. The unauthorized access did not impact the Company’s financial results for the first quarter.

PART IV — OTHER INFORMATION

(1)Name and telephone number of person to contact in regard to this notification

Gina Goetter

(401)

431-8697

(Name)

(Area Code)

(Telephone Number)

(2)Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s). ☑ Yes ☐ No

(3)Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? ☑ Yes ☐ No

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

As previously disclosed in the Company’s Current Report on Form 8-K filed on April 23, 2026, the Company expected revenue of approximately $970 million to $985 million and operating profit of approximately $235 million to $245 million for the fiscal quarter ended March 29, 2026, as recorded under U.S. generally accepted accounting principles ("U.S. GAAP"). Based on preliminary information, the Company now expects its results for the quarter to exceed the high end of these previously disclosed ranges. Complete financial results will be reported in conjunction with the filing of the Company’s Form 10-Q.

Safe Harbor Statement

Statements in this Form 12b-25 that are not historical facts, such as those identified by the use of words “anticipate,” “believe,” “could,” “estimate,” “expect,” “feel,” “forecast,” “intend,” “may,” “plan,” “potential,” “project,” “should,” “would,” and similar expressions, are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements address the Company’s expectations or beliefs concerning future events, including the Company’s investigation of and containment efforts related to the unauthorized access and its impact on the Company’s financial condition and results of operations; the timing, form and content of the Form 10-Q, expectations regarding of the Company’s first quarter 2026 earnings; and expectations for our future performance. These statements are made based on management’s views and assumptions as of the date of this Form 12b-25. Forward-looking statements by their nature address matters that are uncertain, and you are urged to view them with caution. A wide range of factors could materially affect future developments and performance, including but not limited to: the duration and magnitude of the Company's operational disruption stemming from the unauthorized access; the effectiveness of the Company's response to the unauthorized access and the business continuity plans and the ongoing assessment of the impact of the unauthorized access on its business, operations, financial results, and financial reporting; any further business disruptions from the unauthorized access and increased costs relating to the unauthorized access, including from any legal proceedings; and the accuracy of the Company's estimates and assumptions on which its preliminary financial estimates and financial projections, including any sales, margin or earnings guidance or outlook it may provide from time to time, are based. Detailed information about these and other risks is included in the Company’s Annual Report on Form 10-K for the year ended December 28, 2025, and its other reports filed with the SEC. Except as required by applicable law, we do not undertake any obligation to publicly update or revise any of these forward-looking statements, whether as a result of new information, future events, or otherwise.

Hasbro, Inc.

(Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

						By:			/s/ Gina Goetter
						Name:			Gina Goetter
						Title:			Chief Financial Officer and Chief Operating Officer
									(Principal Financial and Principal Accounting Officer)
Date:			May 11, 2026

FAQ

Why did HAS file a Form 12b-25 for the quarter ended March 29, 2026?

Hasbro filed Form 12b-25 because an unauthorized network access on March 28, 2026 delayed compilation and review of information needed to complete its Form 10-Q, and the Company expects to use the additional time permitted under Rule 12b-25.

Did the cybersecurity incident affect Hasbro's first-quarter results?

The Company states the unauthorized access did not impact its first-quarter financial results. Hasbro also reports preliminary results are expected to exceed previously disclosed revenue and operating profit ranges for the quarter.

What financial ranges did Hasbro previously disclose for Q1 2026?

Hasbro previously disclosed expected revenue of approximately $970 million to $985 million and operating profit of approximately $235 million to $245 million for the fiscal quarter ended March 29, 2026.

When will Hasbro file the complete Form 10-Q for Q1 2026?

Hasbro anticipates filing the Form 10-Q within the additional time provided by Rule 12b-25; the company signed this notification on May 11, 2026 and will report complete financial results in that filing.